FineTooth Adds Amendment Processing to Contract Management Solution

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FineTooth announced today it has enhanced its automated contract conversion technology to manage contract amendments.

Austin, TX (PRWEB)May 11, 2006

FineTooth announced today it has enhanced its automated contract conversion technology to manage contract amendments.

In the latest release of its contract management solution, FineTooth has added support for automatic processing of contract amendments. This capability expands the use of the company’s DeepReader™ technology to process contract amendments to keep the contract repository up to date. With this addition, the advantages of automated contract conversion are applied to the later stages of the contract lifecycle.

Higinio Maycotte, CTO at FineTooth says “Our DeepReader technology solves one of the most ubiquitous problems in contract management; extracting the information in paper contracts to create digital business intelligence -- a process called contract conversion. The problem of contract conversion has been identified as one of the most difficult, expensive and common pitfalls associated with implementing commercial contract management solutions. DeepReader eliminates the need to employ manual abstraction for conversion and extends beyond the reach of contract authoring technology to deal with the problems of contracts written on other people’s paper.

We have now enhanced DeepReader to deliver the same advantages to our customers who routinely deal with contract amendments. DeepReader can now easily, rapidly and accurately process the documents authorizing and defining contract amendments to update the contract repository and the audit trail of contract activity.”